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Yahoo, the internet company, is planning to move its European headquarters from London to Switzerland.
One person close to the move – understood to be called “Project Yodel” – said it was made for corporate tax reasons.
Yahoo said the move was “part of its ongoing international strategy to increase competitiveness and to deliver financial results, performance and efficiency”.
Can't see too many people from the UK / Ireland being able to make the move to Geneva... although the skiing is good... ;)
Can't see how this does that unless the French and Swiss are more efficient?
sounds stupid - but there are sites that can exist beyond SE traffic - especilly yahoo. If they leave the UK on bull#*$! pretense then they need to be treated as bull#*$!ers
And if Yahoo believes that by restructuring it's operations and/or corporate structure, that it will simplify it's tax obligations to improve the bottom line then it's shareholders would expect nothing else and the rest would follow as common sense considerations.
As everyone knows, especially at the corporate level, there are a lot of issues in taxation with regards to e-commerce, and it requires good advice and special management to deal with it, often with appropriate jurisdictions . Circumstance can also change.
If some of the staff are invaluable to Yahoo then i'm sure they would do all they can to retain them, otherwise i guess new jobs will be created in another region, and lost in the old region.
Even if vague, Yahoo's disclosure would likely be sincere as it has to answer to shareholders for it's actions.
well Rolle, not Geneva. It is a bit like calling Reading... London. Great tax breaks in what respect? The tax/social charge burden for employees isn't dissimilar and rents and general living costs are high, even in Vaud!
and rents and general living costs are high, even in Vaud!